#265 - Don't Spend Your Life "Avoiding" Failure

Episode of: The "Daily Call" From Option Alpha

< Back to The "Daily Call" From Option Alpha
Jun 14, 20184m
#265 - Don't Spend Your Life "Avoiding" Failure
Jun 14 '184m
Play Episode

Hey everyone. This is Kirk here again from Option Alpha and welcome back to the daily call. Today, we are going to be talking about why I believe and I will try to subscribe myself to not spending your life avoiding failures. I’ll tell you a quick little story which I think will help because it really helped me and I kind of (I don’t know, for whatever reason) thought that it was impactful on my life which is why I wanted to bring it to your attention. But I was at mastermind event a couple of months ago, the only mastermind that I go to with a bunch of people and we had a chance to meet and speak and sit down and talk with Sara Blakely who is the founder and the woman who runs SPANX, multi-billion-dollar company and she’s a billionaire by her own right, very interesting story. And what she said in her story which I think stuck out more than anything was that at their dinner table when they were their kids, her father would go around the table and ask each of them what they failed at that day and if you didn't have an answer, he would actually be mad. He’d be mad at them and say, “Why didn’t you try? Why didn’t you try something new? Why didn’t you try to do something and go out on the limb and let it break?” For her, it was kind of very much normal course of business, I guess if you will to try something new every day and potentially fail at doing it and that was okay because you’re pushing boundaries and you’re trying to figure out what challenged you or what squeezed you or what tested you. And so, I thought this was really, really interesting because what I took away from this was – Hey, you know, we should stop avoiding all of the things that seem like they could be failures.

I think most people or like let’s say average people probably only move forward when conditions are optimal. They look at a job change or they look at even investing in the market and trading. “Well, I’ll start trading once I have some X amount of money or once my kids get out of school or once I move jobs.” And it's always just looking for that perfect point or that perfect time to make a transition change or make a move, but we know it's never going to happen. The conditions are never going to be exactly conducive for us at that exact moment. The stars are never going to align, so why do we keep looking for this? And it’s because we’re truly trying to avoid being failures. I think for me and I did a podcast on this the other week on our weekly show, just talking about some of the mistakes that I think I've made and some of the things I've learned in the last couple of years trading and with all the data, is I'm okay recognizing where my downfalls are and where I think I have room for improvement, things that I've learned on the way that maybe I thought were true before and turned out not to be true. I have definitely found that the greatest rewards, I guess in doing all of this have been from the times where I really challenged myself and tried to push the boundaries, tried to do something that nobody else has done and that to me has been really rewarding because once you actually get there, it might take some time and some effort to go through it. I think once you actually get there, it's a great rewarding experience, you feel very successful, you feel very accomplished and I think a lot of people are just spending their entire life just avoiding failure when actually as Sara Blakely said or would say, you should try to go out there and fail a little bit every day and then learn from it. Hopefully it helps out. As always, if you guys have any questions or comments, let me know and until next time, happy trading.

0:00 / 0:00